What is Futures Trading and how does it work?

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Delve into the world of futures trading with the "Futures" course, a thorough educational series offered by Interactive Brokers and CME Group. This course is designed to cater to both beginners and seasoned investors, offering a broad spectrum of knowledge about securities and commodities futures. It's an invaluable resource for anyone looking to understand and engage in futures trading.
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Principalele puncte cheie ale cursului:

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• Introducere în viitor: Acest modul de bază este perfect pentru investitorii noi în domeniul contractelor futures, introducând conceptele cheie și instrumentele de tranzacționare din cadrul TWS.
• Mecanica pieței futures: Acoperă subiecte esențiale, cum ar fi riscul, stabilirea prețului contractelor futures, contango și backwardation, specificul contractelor și marja futures.
• Tranzacționarea contractelor futures cu TWS: Demonstrează cum se gestionează contractele futures în TWS, inclusiv crearea de spread-uri futures și gestionarea cerințelor de marjă.
• Analiza fundamentală a contractelor futures: Explică procesul de utilizare a datelor micro și macro-economice și a condițiilor din industrie pentru a determina prețul model al contractelor futures.
• In-Depth Topics in Futures: The course delves into specific futures-related products, including equity index, energy, interest rate, FX, agricultural, and metal futures.
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Participanții la acest curs vor dobândi o înțelegere cuprinzătoare a tranzacționării contractelor futures, de la mecanismele de bază ale pieței futures la concepte mai avansate de analiză fundamentală a contractelor futures. Cursul este structurat astfel încât să ofere o bază solidă în ceea ce privește conceptele futures, completată cu demonstrații practice folosind platforma TWS. Indiferent dacă sunteți la început sau doriți să vă aprofundați cunoștințele în tranzacționarea futures, acest curs oferă instrumentele și cunoștințele necesare pentru a naviga eficient pe piața futures.

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FAQ

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1) What exactly is a futures contract and why trade it?

A futures contract is an agreement to buy or sell something (like oil, wheat, or a stock index) at a set price on a future date. People trade futures to protect against price changes, to get quick exposure to a market, or to use leverage (controlling a large position with less money up front).

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2) How are futures priced (fair value and basis)?

The price of a future starts with today’s market price and adjusts for costs (like financing or storage) and income (like dividends). The “basis” is the difference between the futures price and today’s price, and this difference disappears when the contract expires.

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3) What do contango and backwardation imply for returns?

• Contango: when futures are more expensive than today’s price. This usually hurts long-term buyers because rolling into new contracts costs more.
• Backwardation: when futures are cheaper than today’s price. This can benefit buyers because rolling into new contracts costs less.

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4) How do margin and daily P&L work in futures?

To trade futures, you only need to deposit part of the contract value (margin). Each day your profit or loss is updated based on price moves. Because of leverage, gains and losses can be much larger, and if losses are too big, you may need to add more money or your position could be closed.

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5) How do I execute and manage futures in TWS?

In TWS you can place futures trades, build spread trades, and see how much margin is needed. The platform also helps manage expiring contracts, track risks, and analyze products across markets like stocks, energy, interest rates, currencies, agriculture, and metals.

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